Co-op Bank Pension Portal

2023 Spring Budget

We are aware of the changes to the annual allowance and the lifetime allowance (along with other pensions tax thresholds) in the Spring Budget on 15 March 2023. Next steps are being considered and updates will be available in due course.

The Pace and Somerfield Trustees need your help, we've written to our overseas pensioners.

Find out how you can help us update our records.

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Pace DC - Retirement Options

We've worked with Legal & General to create an online retirement portal to help you explore and understand all your retirement options and where you can get further support – helping you make the right decision for you and your personal circumstances. Click "Read more" for more information

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Trustee’s response to current market conditions

It is understandable if you are concerned about the impact recent financial market movements may have had on your pension and we wanted to reassure you that the Trustees and sponsoring employer(s) of the pension scheme are watching developments closely to ensure your benefits are looked after.

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New Pace DC Investment Option - Shariah Fund

We’ve made a change to the funds offered to members. We’ve introduced a new fund, the Pace Growth (Shariah) Fund to the self-select fund range. This fund is available to all Pace DC members now - click on the ‘read more’ button for more information.

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Member Online

Since April 2020, the majority of Pace pensioners have been able to access their pension information online, keep their own details up to date and view, print and save P60s and payslips. Over 1,000 Pace pensioners have signed up so far! Click on the register button to sign up!

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I'm not in Pace

Everyone who works for the Co-operative Bank can join Pace DC. If you’re not paying into Pace DC but you’d like to, you can find out how to join and where to get more information.

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I'm in Pace DC

Pace DC is the pension scheme for Bank colleagues. This is the scheme you are in if you have been automatically enrolled.

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I have benefits in Pace DC and Pace DB

If you paid into a pension with the Co-op or the Bank before 2015, you might have a pension in the closed defined benefit section, Pace DB. Members who were contributing to Pace DB in 2015, when Pace DB closed, automatically joined Pace DC from that time.

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I’m in Pace DB (formerly Pace Complete)

Pace DB is a defined benefit scheme which opened in 2006 and closed in 2015. It no longer has any contributing members – only pensioners and people who’ve left but kept their pension in Pace until they’re ready to take it.

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I'm thinking about retirement

Whether you’re about to retire shortly – or just thinking about your options – this area of the website has lots of information to help.

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I'm a pensioner or I've left

This section is for people who are already getting a Pace pension or who are waiting to take their Pace pension but they’re no longer paying contributions.

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